In the wake of the 2024 presidential election, Ana Thompson was engulfed by a wave of apprehension. “I experienced a profound fear about the outcomes and what they could mean for our country,” she reflects.
As a popular TikTok creator specializing in personal finance, she started to consider the possible economic ramifications of President-elect Donald Trump’s proposed policies—and how she could help others brace for the future.
Taking the initiative, she filmed a TikTok video urging women to take control of their financial situations. “The future of our country is uncertain, and we don’t know what the next four years will entail, but having financial resources can provide you with more choices,” she conveyed in her video.
“I expect to see changes in our economy over the next four years, and many people are already encountering difficulties,” Thompson tells TIME. “I want to prepare them for what lies ahead.”
The Trump Administration has proposed various changes that could drastically impact the economy, including universal tariffs on imports, cuts to student loan relief, and tax reductions that analysts warn may benefit higher-income individuals while neglecting low- and middle-income families.
These proposals have led many individuals to reconsider their financial strategies, with some women already taking proactive measures—be it by trimming expenses, shifting their spending away from large corporations, or increasing their savings.
Rethinking Big Business
Sara Belhouari, a financial advisor based in Brooklyn, promotes what she refers to as “financial activism,” which involves making conscious choices about where to allocate her money. She has begun to reevaluate her support for major corporations, particularly after discovering that companies like Amazon and Uber contributed to Trump’s inauguration fund. Belhouari has decided to withdraw her patronage from businesses that do not align with her principles.
“These corporations hold significant wealth, influence, and power,” she asserts. “Many of the companies I’ve opted to avoid are backing politicians who endorse detrimental policies.”
Nabihah Ahmad, a student at Columbia University, has consistently prioritized supporting companies that emphasize sustainability and ethical labor practices. Last year, she created an online search tool designed to help users find alternatives to products from businesses profiting from the Israel-Hamas conflict. Following the election, she broadened her platform to feature black-owned and women-owned businesses throughout the U.S.
She reports that millions have visited her site each month, reflecting a growing awareness of consumer impact. “There’s been a cultural shift towards conscious consumption and utilizing our spending power to tackle issues like climate change and political challenges,” she notes. “Our spending habits play a crucial role in shaping these outcomes.”
An April 2024 Nielsen report highlighted that women are responsible for about $31.8 trillion in global expenditures and are expected to control 75% of discretionary spending by 2028.
Thompson believes that initiatives such as “no-buys,” where participants refrain from non-essential spending, or choosing to support small businesses over large corporations, can empower women politically. “With the reversal of Roe v. Wade, many women feel their autonomy is being diminished,” she observes. “Offering them a concrete way to influence their communities through their financial choices can be incredibly empowering.”
Read More: What Donald Trump’s Win Means for the Economy
Saving for Uncertainty
In anticipation of potential economic turmoil, many are focusing on their savings. Elysia Berman, a creative director in New York, plans to cut down on expenses and shop locally, whether by buying groceries from nearby markets or participating in clothing swaps. “I strive to be as intentional as possible with my purchases,” she explains.
For Marisa Savegnago, a wedding photographer and marketer in Illinois, this mindset has become second nature. During the pandemic, when online shopping seemed like the safest option, she found herself surrounded by unwanted items.
“One day, it hit me: ‘Wow, we have accumulated so much stuff,’” she recalls. “It felt overwhelming.”
This realization led her to reassess her shopping habits, prompting her to focus on second-hand purchases and supporting local businesses, a lifestyle she now wholeheartedly embraces.
“Growing up in a middle-class environment, I’ve seen the struggles faced by those around me, and witnessing the gains of massive corporations during these tough times for the middle class is disheartening,” she shares.
By avoiding large corporations, Savegnago has been able to invest more in her local community. She encourages others to do the same. “We need to be more thoughtful about where we spend our money and whom we support,” she asserts. “It’s vital to foster a stronger sense of community.”
If the proposals from the Trump Administration lead to higher prices, Berman anticipates that many will be forced to reduce their spending out of necessity. “Ultimately, it comes down to the challenges of late-stage capitalism. Many aren’t earning enough, and prices are too steep. We’re facing a housing crisis and a soaring cost of living,” she explains. “People are beginning to realize that the incoming Administration isn’t prioritizing reduced living costs, so they are taking matters into their own hands by stepping away from conventional capitalism.”
Belhouari believes that as more individuals seek to wield political influence, they will look to their spending decisions. “Our political framework is closely linked to corporations that spend enormous sums lobbying for politicians who advance their interests, often at the public’s expense,” she observes. “The reality is that the cost of maintaining this system has grown too high.”